The global network engineering services market is expected to grow from $45.38 billion in 2021 to $50.51 billion in 2022 at a compound annual growth rate (CAGR) of 11.30%. The network engineering services market is expected to reach $76.07 billion in 2026 at a CAGR of 10.78%, according to Research and Markets.
The network engineering services market consists of sales of network engineering services by entities (organizations, sole traders, and partnerships) that refer to planning, implementing, and managing computer networks that provide in-house phone, data, video, and wireless network services.
The network engineering services providers partner with consultants, telecom companies, corporations, ISP and others to prepare, develop, plan, and implement projects based on customer recommendations and requirements.
The main services of network engineering services include network assessment, network design, and network deployment. Network assessment refers to a thorough examination of the present IT infrastructure that presents an overview of the current environment and offers changes such as network consolidation, simplicity, or automation.
Small, medium and large enterprises use both wired and wireless network engineering services for their daily operational activities. The industries utilizing network engineering services include banking, financial services & insurance, telecom, information technology, healthcare, education, media & entertainment, energy & utilities, manufacturing, and other sectors.
North America was the largest region in the network engineering services market in 2021 and is expected to be the fastest-growing region in the forecast period. The regions covered in the network engineering services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increased adoption of broadband will propel the growth of the network engineering services market. Broadband attributes to high-speed internet connectivity that is always quicker than typical dial-up access. It enables high-quality and rapid access to information, teleconferencing, data transfer, and other functions in various settings, including healthcare, education, and technical development.
Network engineering services create a balance between security and the rising need for computing that is fast, more effective, and more adaptable. Due to COVID-19 restrictive containment measures involving social distancing, remote working, and the closure of commercial activities, companies have rearranged their operations to initiate remote working that increased the adoption of broadband.
According to the Organisation for Economic Cooperation and Development (OECD), the demand for broadband communication services has skyrocketed since the COVID-19 crisis. Some providers reported a 60% increase in Internet traffic after the crisis. Therefore, the increase in the adoption of broadband is expected to boost demand for network engineering services during the forecast period.
Strategic Partnership is a key trend gaining popularity in the network engineering market. The companies operating in the network engineering services market are focusing on entering into a strategic partnership with relevant technology players to expand into new markets and leverage each other’s resources.
The countries covered in the network engineering services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.